Explanation
Background
A separate Columbus Recreation and Parks Foundation to support the mission of the department is in the process of being established. The Columbus Recreation and Parks Fund is an initial step to provide seed money for the establishment of the Foundation. Staff has been meeting with a number of organizations and corporations to seek support for the establishment of the Foundation. Once the Foundation is established, the Columbus Recreation and Parks Fund will become part of the Foundation and will continue to be managed by The Columbus Foundation.
The initial deposit to the fund will be $13,600.00 A four-member committee consisting of the Director of the Columbus Recreation and Parks Department, the President of the Columbus Recreation and Parks Commission, the Vice-President of the Columbus Recreation and Parks Commission, and the City Council Recreation and Parks Committee Chair shall oversee the funds and make recommendations to The Columbus Foundation for the distribution of those funds.
This ordinance is needed to authorize the Director of Recreation and Parks to enter into an agreement with The Columbus Foundation to establish the fund known as The Columbus Recreation and Parks Foundation Fund.
This ordinance is submitted as an emergency so as to allow contributions to be received as soon as possible.
FISCAL IMPACT:
This legislation does not obligate the City for any expenditure.
Title
To authorize the Director of the Recreation and Parks Department to enter into an agreement with the Columbus Foundation for the establishment and management of an endowment fund to be known as the Columbus Recreation and Parks Foundation Fund; and to declare an emergency.
Body
WHEREAS, The Columbus Recreation and Parks Foundation Fund, a fund to be established at The Columbus Foundation by the Columbus Recreation and Parks Department, will accept public, corporate and private donations, and will distribute funds to various organizations within the community for projects that support the mission of the Columbus Recreation and Parks Department; and,
WHEREAS, The Columbus Recreation and Parks Foundation Fund shall realize annual interest from the fund established with The Columbus Foundation; and,
WHEREAS, it is necessary to enter into an agreement with The Columbus Foundation to establish and manage the fund known as The Columbus Recreation and Parks Foundation Fund; and,
WHEREAS, an emergency exists in the usual daily operation of the Recreation and Parks Department in that it is immediately necessary to enter into an agreement with The Columbus Foundation so as to allow contributions to be received as soon as possible for the immediate preservation of the public health, peace, property, safety, and welfare; Now, therefore:
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Director of Recreation and Parks is hereby authorized and directed to enter into an agreement with The Columbus Foundation to provide for the establishment and management of a donor advised fund to be known as The Columbus Recreation and Parks Foundation Fund.
SECTION 2. That any future donations received by the City that are specifically designated for The Columbus Recreation and Parks Foundation Fund are hereby authorized to be transferred to The Columbus Foundation by the City Auditor upon receipt of an approved voucher signed by the Director of Recreation and Parks. The funds necessary for these transactions are hereby deemed appropriated.
SECTION 3. That for reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor, or 10 days after passage if the Mayor neither approves nor vetoes the same.